Elon Musk is taking legal action against the law firm that represented Twitter during his attempt to acquire the company. According to Musk’s lawsuit, the firm, Wachtell, Lipton, Rosen, and Katz, charged an excessive fee of $90 million during the transition of ownership. Musk claims that Wachtell took advantage of the situation, knowing that nobody was closely monitoring Twitter’s financial well-being. They allegedly lined their own pockets while the company was being handed over to Musk.
In response, X Corp., Twitter’s holding company, is seeking repayment of the excessive fee and attorneys’ fees related to the litigation. Musk’s company is being represented by Reid Collins & Tsai, a litigation boutique based in Austin, Texas. Neither Reid Collins nor Wachtell have made any public statements regarding the lawsuit.
